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美国航空集团（AAL）与ACV Auctions Inc.（ACVA）财务数据对比。点击上方公司名可切换其他公司
美国航空集团的季度营收约是ACV Auctions Inc.的76.2倍（$14.0B vs $183.6M）。ACV Auctions Inc.同比增速更快（15.1% vs 2.5%）。ACV Auctions Inc.自由现金流更多（$-14.7M vs $-1.9B）。过去两年ACV Auctions Inc.的营收复合增速更高（12.3% vs 5.5%）
美国航空集团是美国头部航司，总部坐落于得克萨斯州沃斯堡的达拉斯-沃斯堡都会区，按客运量、日航班量计算为全球最大航司。集团旗下连同区域子公司及以American Eagle品牌运营的合作航司，每日运营近6800个航班，覆盖48个国家近350个目的地，拥有完善的国内外航线网络。
ACV Auctions Inc.是北美领先的数字化二手车批发拍卖平台，主要服务美加两地汽车经销商，提供车辆透明检测、安全支付、物流配送等全链条服务，助力注册批发买卖双方无需线下到场即可高效完成二手车交易。
AAL vs ACVA — 直观对比
营收规模更大
AAL
是对方的76.2倍
$183.6M
营收增速更快
ACVA
高出12.6%
2.5%
自由现金流更多
ACVA
多$1.9B
$-1.9B
两年增速更快
ACVA
近两年复合增速
5.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $183.6M |
| 净利润 | $99.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 3.2% | -9.7% |
| 净利率 | 0.7% | — |
| 营收同比 | 2.5% | 15.1% |
| 净利润同比 | -83.2% | — |
| 每股收益（稀释后） | $0.15 | $-0.12 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AALACVA
| Q4 25 | $14.0B | $183.6M | ||
| Q3 25 | $13.7B | $199.6M | ||
| Q2 25 | $14.4B | $193.7M | ||
| Q1 25 | $12.6B | $182.7M | ||
| Q4 24 | $13.7B | $159.5M | ||
| Q3 24 | $13.6B | $171.3M | ||
| Q2 24 | $14.3B | $160.6M | ||
| Q1 24 | $12.6B | $145.7M |
净利润AALACVA
| Q4 25 | $99.0M | — | ||
| Q3 25 | $-114.0M | $-24.5M | ||
| Q2 25 | $599.0M | $-7.3M | ||
| Q1 25 | $-473.0M | $-14.8M | ||
| Q4 24 | $590.0M | — | ||
| Q3 24 | $-149.0M | $-16.0M | ||
| Q2 24 | $717.0M | $-17.1M | ||
| Q1 24 | $-312.0M | $-20.5M |
营业利润率AALACVA
| Q4 25 | 3.2% | -9.7% | ||
| Q3 25 | 1.1% | -11.9% | ||
| Q2 25 | 7.9% | -3.7% | ||
| Q1 25 | -2.2% | -7.9% | ||
| Q4 24 | 8.3% | -16.2% | ||
| Q3 24 | 0.7% | -10.0% | ||
| Q2 24 | 9.7% | -11.6% | ||
| Q1 24 | 0.1% | -15.5% |
净利率AALACVA
| Q4 25 | 0.7% | — | ||
| Q3 25 | -0.8% | -12.3% | ||
| Q2 25 | 4.2% | -3.8% | ||
| Q1 25 | -3.8% | -8.1% | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | -1.1% | -9.4% | ||
| Q2 24 | 5.0% | -10.6% | ||
| Q1 24 | -2.5% | -14.1% |
每股收益（稀释后）AALACVA
| Q4 25 | $0.15 | $-0.12 | ||
| Q3 25 | $-0.17 | $-0.14 | ||
| Q2 25 | $0.91 | $-0.04 | ||
| Q1 25 | $-0.72 | $-0.09 | ||
| Q4 24 | $0.94 | $-0.15 | ||
| Q3 24 | $-0.23 | $-0.10 | ||
| Q2 24 | $1.01 | $-0.10 | ||
| Q1 24 | $-0.48 | $-0.13 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $271.5M |
| 总债务越低越好 | $25.3B | — |
| 股东权益账面价值 | $-3.7B | $429.7M |
| 总资产 | $61.8B | $1.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AALACVA
| Q4 25 | — | $271.5M | ||
| Q3 25 | — | $265.3M | ||
| Q2 25 | — | $258.4M | ||
| Q1 25 | — | $291.9M | ||
| Q4 24 | — | $224.1M | ||
| Q3 24 | — | $252.5M | ||
| Q2 24 | — | $215.0M | ||
| Q1 24 | — | $209.8M |
总债务AALACVA
| Q4 25 | $25.3B | — | ||
| Q3 25 | $25.1B | — | ||
| Q2 25 | $25.3B | — | ||
| Q1 25 | $24.7B | — | ||
| Q4 24 | $25.2B | — | ||
| Q3 24 | $26.3B | — | ||
| Q2 24 | $27.6B | — | ||
| Q1 24 | $28.2B | — |
股东权益AALACVA
| Q4 25 | $-3.7B | $429.7M | ||
| Q3 25 | $-4.0B | $434.4M | ||
| Q2 25 | $-3.9B | $448.8M | ||
| Q1 25 | $-4.5B | $439.6M | ||
| Q4 24 | $-4.0B | $440.0M | ||
| Q3 24 | $-4.9B | $456.2M | ||
| Q2 24 | $-4.7B | $457.6M | ||
| Q1 24 | $-5.5B | $458.3M |
总资产AALACVA
| Q4 25 | $61.8B | $1.1B | ||
| Q3 25 | $62.1B | $1.2B | ||
| Q2 25 | $63.7B | $1.1B | ||
| Q1 25 | $62.6B | $1.2B | ||
| Q4 24 | $61.8B | $984.1M | ||
| Q3 24 | $63.5B | $1.0B | ||
| Q2 24 | $64.1B | $1.0B | ||
| Q1 24 | $64.4B | $1.0B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-274.0M | $-12.4M |
| 自由现金流经营现金流 - 资本支出 | $-1.9B | $-14.7M |
| 自由现金流率自由现金流/营收 | -13.6% | -8.0% |
| 资本支出强度资本支出/营收 | 11.6% | 1.2% |
| 现金转化率经营现金流/净利润 | -2.77× | — |
| 过去12个月自由现金流最近4个季度 | $-680.0M | $69.1M |
8季度趋势，按日历期对齐
经营现金流AALACVA
| Q4 25 | $-274.0M | $-12.4M | ||
| Q3 25 | $-46.0M | $10.3M | ||
| Q2 25 | $963.0M | $13.7M | ||
| Q1 25 | $2.5B | $66.6M | ||
| Q4 24 | $398.0M | $-3.2M | ||
| Q3 24 | $277.0M | $21.1M | ||
| Q2 24 | $1.1B | $4.5M | ||
| Q1 24 | $2.2B | $43.0M |
自由现金流AALACVA
| Q4 25 | $-1.9B | $-14.7M | ||
| Q3 25 | $-872.0M | $7.7M | ||
| Q2 25 | $464.0M | $10.9M | ||
| Q1 25 | $1.6B | $65.3M | ||
| Q4 24 | $-342.0M | $-3.9M | ||
| Q3 24 | $-191.0M | $20.2M | ||
| Q2 24 | $477.0M | $2.7M | ||
| Q1 24 | $1.4B | $41.9M |
自由现金流率AALACVA
| Q4 25 | -13.6% | -8.0% | ||
| Q3 25 | -6.4% | 3.8% | ||
| Q2 25 | 3.2% | 5.6% | ||
| Q1 25 | 13.0% | 35.7% | ||
| Q4 24 | -2.5% | -2.5% | ||
| Q3 24 | -1.4% | 11.8% | ||
| Q2 24 | 3.3% | 1.7% | ||
| Q1 24 | 10.8% | 28.8% |
资本支出强度AALACVA
| Q4 25 | 11.6% | 1.2% | ||
| Q3 25 | 6.0% | 1.3% | ||
| Q2 25 | 3.5% | 1.5% | ||
| Q1 25 | 6.6% | 0.7% | ||
| Q4 24 | 5.4% | 0.4% | ||
| Q3 24 | 3.4% | 0.6% | ||
| Q2 24 | 4.5% | 1.1% | ||
| Q1 24 | 6.6% | 0.7% |
现金转化率AALACVA
| Q4 25 | -2.77× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.57× | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AAL
| Passenger Travel | $11.6B | 83% |
| Loyalty Program Travel Redemptions | $1.1B | 8% |
| Loyalty Program Marketing Services | $945.0M | 7% |
| Cargo And Freight | $227.0M | 2% |
| Other Revenue | $169.0M | 1% |
ACVA
| Auction Marketplace Revenue | $77.6M | 42% |
| Other Marketplace Revenue | $72.4M | 39% |
| Customer Assurance | $24.1M | 13% |
| Data Services Revenue | $9.4M | 5% |
